Overbrook Management Corp decreased its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 11.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,676 shares of the technology company’s stock after selling 10,556 shares during the quarter. Lumentum Holdings comprises 1.0% of Overbrook Management Corp’s investment portfolio, making the stock its 20th largest holding. Overbrook Management Corp owned 0.14% of Lumentum Holdings worth $4,831,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Riverhead Capital Management LLC raised its position in Lumentum Holdings by 71.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,062 shares of the technology company’s stock worth $118,000 after buying an additional 862 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Lumentum Holdings by 111.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,662 shares of the technology company’s stock worth $152,000 after buying an additional 1,406 shares during the last quarter. Creative Planning raised its position in Lumentum Holdings by 54.2% during the 2nd quarter. Creative Planning now owns 3,039 shares of the technology company’s stock worth $173,000 after buying an additional 1,068 shares during the last quarter. LS Investment Advisors LLC raised its position in Lumentum Holdings by 69.1% during the 1st quarter. LS Investment Advisors LLC now owns 3,494 shares of the technology company’s stock worth $186,000 after buying an additional 1,428 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in Lumentum Holdings during the 1st quarter worth $206,000. Hedge funds and other institutional investors own 95.74% of the company’s stock.

A number of equities analysts have commented on LITE shares. Needham & Company LLC restated a “strong-buy” rating and set a $80.00 price objective on shares of Lumentum Holdings in a research report on Wednesday, September 6th. B. Riley restated a “buy” rating and set a $77.00 price objective on shares of Lumentum Holdings in a research report on Thursday, August 3rd. UBS AG upped their price objective on shares of Lumentum Holdings from $66.00 to $70.00 in a research report on Wednesday, August 9th. Rosenblatt Securities set a $70.00 price objective on shares of Lumentum Holdings and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, Jefferies Group LLC restated a “buy” rating and set a $72.00 price objective (up previously from $63.00) on shares of Lumentum Holdings in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Lumentum Holdings has an average rating of “Buy” and an average target price of $64.75.

Shares of Lumentum Holdings Inc. (LITE) traded up 2.751% during trading on Wednesday, hitting $58.825. 938,726 shares of the stock were exchanged. Lumentum Holdings Inc. has a 12-month low of $32.90 and a 12-month high of $59.15. The stock’s market cap is $3.62 billion. The stock has a 50-day moving average of $58.50 and a 200 day moving average of $48.43.

Lumentum Holdings (NASDAQ:LITE) last issued its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.18. Lumentum Holdings had a negative net margin of 10.25% and a positive return on equity of 18.12%. The business had revenue of $222.70 million for the quarter, compared to analysts’ expectations of $229.45 million. During the same period in the previous year, the business earned $0.41 earnings per share. The company’s revenue was down 7.9% on a year-over-year basis. Equities analysts predict that Lumentum Holdings Inc. will post $3.02 earnings per share for the current fiscal year.

In related news, CEO Alan S. Lowe sold 28,095 shares of Lumentum Holdings stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $51.20, for a total transaction of $1,438,464.00. Following the sale, the chief executive officer now directly owns 249,655 shares in the company, valued at $12,782,336. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Penny Herscher sold 1,313 shares of Lumentum Holdings stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $53.04, for a total transaction of $69,641.52. Following the sale, the director now owns 26,464 shares in the company, valued at $1,403,650.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,199 shares of company stock worth $2,692,047. Company insiders own 0.76% of the company’s stock.

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About Lumentum Holdings

Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).

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Institutional Ownership by Quarter for Lumentum Holdings (NASDAQ:LITE)

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